Lease or Loan at North Reading Subaru near Boston

Benefits of Loans and Leases

When it comes to financing your next new Subaru
model you generally have two options: a loan or a lease.
Each has its benefits, depending on your needs. If you won't be putting many miles
on the vehicle early on, and you want to trade it in for something newer in the
near future, a lease is a good option. However, if you're planning long trips,
or if you want to hold on to the vehicle for years to come, a loan is the
better choice. Here are some key benefits and drawbacks to each
option.

Loan vs. Lease Quick Facts

Monthly Payments:
Lease payments are almost always lower than low payments. This is because
you're essentially paying for the vehicle's depreciation over the course of the
contract. Payments are higher with a loan because you will be paying off the
entire purchase price.

Ownership: With a loan, you own
the vehicle. You can do what you want with it, and keep it as long as you'd
like. You don't own a leased vehicle, instead, you are paying to use it for a
period of time.

Mileage: With a loan, there are
no mileage limits because the car is your own. With a lease, however, your
mileage is limited and you'll have to pay a penalty for exceeding the
limit.

Vehicle Return: With a loan, it
is on you to sell or trade the vehicle when you no longer want it. With a
lease, just pay any end-of-lease costs and you can walk away free and
clear.

Early Termination: With a loan,
you are free to sell or trade the vehicle at any time. Terminating a lease
early, however, can result in charges that could be almost as expensive as
seeing your lease through to the end.

Future Value: With a leased
vehicle, you don't have to worry about the vehicles depreciation, but you also
won't have any equity. With a loan, the vehicle will depreciate, but its cash
value is yours.

Whether you choose to lease or loan, the experts
here in our finance center
are here to ensure a simple, hassle-free process. They'll work with you to help
you understand all your options and to secure a financing solution that works
best for your needs and budget. If you have any questions about financing,
don't hesitate to contact
us at your convenience, or come visit us
here in North Reading. We're conveniently located to serve drivers from Boston,
Belmont, Lawrence, and Medford, and we'll be happy to assist you.